Required Commercial Insurance in California

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Certain commercial insurance policies are required when you own a business in California. There are two types in the state that many companies are required to have to stay legal. If you have a California business, it’s essential to know what these are and whether your business needs them. Call us at Murvay Insurance in Newport Beach, CA to get your commercial insurance.

Workers’ Compensation Insurance

If your business has any employees at all, even just one, you are required to have workers’ compensation insurance for them. This is true whether the employees are part-time or full-time. This insurance gives your business coverage in case an employee has an accident at work and gets injured or develops a work-related illness. When this happens, this insurance will pay for their medical bills and other costs like lost wages so that your business won’t have to. It’s effective protection for your business, and it protects your employees as well. 

Commercial Auto Insurance

When you have a business that owns a vehicle, you are required to have commercial auto insurance. This policy must have different amounts of coverage to give you different kinds of protection. A specific minimum amount is required for one person who becomes injured in an accident for your bodily injury liability. There is another amount required for bodily injury liability for all injured people in an accident you caused. There is also an amount required to pay for the damage done to the other party’s property for property damage liability. All of these minimum amounts are very low when compared to other states. Getting a higher amount than the state’s minimum is generally recommended. 

Get Your Business Covered

When you need commercial insurance, we’re here to help. Call us at Murvay Insurance in Newport Beach, CA.

 

Will Home Insurance Cover Structures Not Attached to My House?

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When most people think of their home, the first thing that comes to mind is probably the main structure, the house itself. However, in insurance, the home is far more complex than a single structure.

California homeowners often ask themselves what exactly their home insurance covers. Murvay Insurance can help them answer that question and any other questions related to home insurance.

What is covered by home insurance?

The primary type of homeowners policy sold in California has two main sections divided into several sub-categories. The first section can be thought of as the property coverage section. The second section covers liability. We will focus on the property coverage section to answer the question of detached structures.

What is covered by property insurance?

This section has two sub-categories: Dwelling and Other Structures.

Dwelling coverage is designed to protect your home from damages that may occur due to a covered peril. Covered perils include fire, lightning, windstorm, and hail. They also have certain types of vandalism.

Note: Some companies do not cover all of the example perils listed above. Always pay close attention to the exclusions that are listed in your policy.

Other Structures coverage is designed to protect your other structures not attached to your home. Things considered Other Structures include fences, sheds, outbuildings, and guest houses. These structures are protected against the same perils as your home. However, Other Structure’s coverage typically limits a certain percentage of your home’s coverage.

Are you a California resident with another question about home insurance? Reach out to the experts at Murvay Insurance today!

Will auto insurance cover the damage I caused to my own property?

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Most would agree that auto insurance has many benefits. Of course, auto liability coverage provides compensation for the damage you may cause to other people’s property and vehicles and personal injury coverage. Conversely, comprehensive and collision insurance covers damage to your vehicle. However, auto insurance doesn’t cover damage to your property. Our Newport Beach CA team at Murvay Insurance understands that all the elements of auto insurance may not be understood by many drivers and are committed to educating Newport Beach, CA drivers. 

What’s Covered under a Standard Auto Insurance Policy?

A standard auto insurance policy provides medical, property, and liability coverage. Auto insurance falls into three basic categories: liability, comprehensive, and collision, although there are additional forms of auto insurance. Liability coverage pays for damage or injury you cause to someone else’s property, vehicle, or body. Comprehensive and collision insurance covers damage to your own vehicle. Every state sets its minimum limits when it comes to auto insurance. These are the auto insurance limits that every driver must maintain to drive in the state they reside in legally.

Other Considerations

However, if you are a homeowner, damage caused to your property is covered under most homeowners’ insurance policies. If you don’t own a home or don’t have homeowners insurance, you don’t have coverage for damage to your property. However, one of our agents at Murvay Insurance may be able to help you find insurance that could be used to cover personal property damage. Our Newport Beach, CA team knows that drivers have questions regarding what’s covered under an auto insurance policy, and we’re here to answer those questions. Give us a call. We’d be happy to answer your questions.

Benefits of Commercial Insurance In Newport Beach, CA

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It is more important than ever to have commercial insurance in today’s world. All sized businesses can benefit from the coverage that commercial insurance provides.

Here’s a look at some advantages commercial insurance can provide for companies in Newport Beach, CA:

1. Protect Your Business Investment

The first and most apparent benefit of commercial insurance is that it protects your business investment. No matter what type of business you have, your equipment, inventory, and property are valuable investments. If something happens to them, commercial insurance can help you recover the cost of repairs or replacement.

2. Safeguard Your Business from Liability

Another significant benefit of commercial insurance is safeguarding your business from liability. If someone sustains an injury on your property or one of your products, they could hold you liable. This means you will pay any medical bills or other damages incurred by the injured party. Commercial insurance can help cover these costs, protecting your business from financial ruin.

A Murvay Insurance agent can help you find the right commercial insurance policy for your business. Contact us today to learn more about commercial insurance and how it can benefit your business.

3. Peace of Mind

Finally, commercial insurance can reduce stress. When you know your business is protected from the risks mentioned above, you can relax and focus on growing your business. Commercial insurance gives you peace of mind, knowing that you are covered in case of a disaster.

These are just a few benefits that commercial insurance can provide for businesses in Newport Beach, CA. If you’re looking for reliable coverage for your business, contact Murvay Insurance today. We’ll work with you to find the policy that fits your needs.

Home Insurance Do’s and Dont’s

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Protecting your home means more than just installing a security system and locking up at night. A solid home insurance policy is one of the best ways to protect the investment you have made. At Murvay Insurance, serving Newport Beach, CA, we can help you better understand this vital type of coverage. Keep reading to learn about some home insurance do’s and don’ts that you should be aware of. 

Do Compare Rates

It would be best if you spent some time comparing the rates of different companies. This will be an essential long-term expense that you will invest in. You will want to make sure you are getting the best deal. 

Don’t Settle For General Coverage Amounts.

When you are ready to purchase a home insurance policy, you should know that there are both generic and customized coverage amounts. A general coverage amount will include a benefit amount that would equal the expense of repairing or replacing your home should it be lost or damaged. However, this amount of coverage will not consider the value of your personal belongings or anything of value on the property.

You will want to sit down with an insurance agent to get customized coverage. This professional can help you calculate the value of the belongings and upgrades that may have been done to the home.

Do Install Security 

Installing a security system could help you save on home insurance costs. The more you make sure your home is safe, the less of a risk you are to the insurance company. 

Don’t Let Insurance Lapse.

It is imperative that you always make payments on time to not experience a lapse in coverage. 

If you would like to learn more about our services, don’t hesitate to contact us at Murvay Insurance, serving Newport Beach, CA, and the surrounding areas. 

Do I Need Insurance Before Buying A New Car?

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In the state of California, you are required to have proof of insurance whenever you operate your vehicle. Acceptable forms of proof include a physical insurance card or a digital copy on your mobile phone. You should be able to produce proof of coverage on the spot anytime it is required by a law enforcement officer or when an accident occurs.

California’s Car Insurance Grace Period

California has a new car insurance grace period of 30 days, so you will not be required to provide proof of insurance as soon as you leave the car lot. This means that you have 30 days from the date of purchase to obtain auto insurance coverage for your new car and provide it to the state DMV. If your previous vehicle was covered under an existing policy, the grace period is extended to 45 days for coverage on your new car. The professionals at Murvay Insurance of Newport Beach CA are available for any questions you have regarding the California car insurance grace period.

Getting Car Insurance Before Buying A Car

However, it is important to note that you are not protected in the event of an accident during the grace period. If you are involved in an automobile accident during the grace period and you do not have insurance coverage, you may be held personally liable for any related costs to that accident. Therefore, you may want to consider buying insurance before you purchase your new car.

Purchasing car insurance before you buy a new car is just as simple as picking out your new car. All you have to do is contact an insurance company and pay for the new policy.

While you may be in a hurry, it is not in your best interest to make a spur-of-the-moment purchase. Obtaining the right coverage requires careful planning and comparison shopping. When you are ready to find the coverage you need, contact Murvay Insurance of Newport Beach, CA for more information.

Commercial Insurance To Consider When Starting A Business

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If you are thinking about starting a business, one of your top priorities is to purchase the commercial insurance that you need to protect your assets. Today, it seems like new businesses are popping up everywhere. People are discovering untapped markets, profiting from their talents, skills, and knowledge on every level.

As a new business owner, there are several things to consider before you open your doors. One of those is decided on the types and amounts of commercial insurance you need in Newport Beach, CA. Fortunately, you do not have to embark on this journey alone. The professionals at Murvay Insurance are here to guide you through the entire process.

Why You Need Commercial Insurance

As a business owner, you have personal and business assets that you need to protect, such as your savings and your property. For some businesses, to obtain proper licensing to conduct business legally, you will need specific coverage in place. You must learn about all of these requirements before announcing that you are open for business.

Additionally, commercial insurance can help with covering the expenses relating to any property damage or lawsuits that you may face. When you own your own business, you are financially responsible for all accidents and mishaps, including attorney fees, settlements, court costs, and replacement or repair costs.

Types of Commercial Insurance to Consider

There are five main types of commercial insurance that you will want to focus on when starting a business, including:

  • Business owner’s policy
  • Professional liability insurance
  • Cyber liability insurance
  • Commercial auto insurance, if you or your employees use automobiles to perform work duties
  • Workers’ compensation, if you have employees

If you are starting a business in the Newport Beach, CA area and have questions about the type of insurance coverage you need, contact the experts at Murvay Insurance. Call today.

California Home Insurance – What You Need To Know About Home Insurance

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California is a beautiful place to live with picturesque beaches and sunny weather almost year-round.  Armed with this information, home insurance would most likely be the last thing on your mind.  Who needs it?  It never rains here!  What could possibly happen to the house?  These questions and more are normal for those debating whether to get home insurance or not.  One thing to keep in mind, it doesn’t matter where you live in the world, there is always a calamity that could happen to your home.  Murvay Insurance in Newport Beach, CA offers many options for home insurance and other insurance needs.

California may seem like the perfect locale to own a home with minimal rain and storms and warm weather year-round in the southern half.  However, there are catastrophic events that are unique to California and the two biggest are earthquakes and landslides or mudslides.  Many times, these two go hand-in-hand when powerful earthquakes strike and mudslides follow afterward.  Florida has a somewhat similar climate, albeit with a tropical slant to it, but even Florida is not without issues of its own with the threat of tropical storms and hurricanes.  The overall point to this is that there is no “perfect” place in the world to live in without the threat of damage to your home from an event.

Home Insurance

Home Insurance can cover catastrophic events from storm damage to floods to mudslides and earthquakes.  You may need to possibly add earthquake, mudslide, and flood coverage to your home insurance policy on a rider during your initial sign up for home insurance.  Having coverage against these possible outcomes is the best peace of mind that you can buy.

More Information

You can find out more about home insurance by contacting Murvay Insurance in Newport Beach, CA today!

Threats of Not Having Auto Insurance

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If you are a driver you should understand how important auto insurance is. Driving without proper auto insurance is not only dangerous, but it is also illegal and in most states, including California, is considered a crime. Therefore, it is important to purchase a proper auto insurance policy before hitting the road in your car. Murvay Insurance serving clients in Newport Beach, CA and other surrounding towns prepared a list of threats of not having auto insurance. 

Threats of Not Having Car Insurance You Should Know About

Here is a list of risks you take when you decide to drive without auto insurance:

  • Suspension or removal of your driver’s license. If the police catch you driving without car insurance, your driver’s license may be suspended. As a result, you will not be able to drive, which makes it one of the most unwanted risks. 
  • You will have to pay for all the damages yourself in case of an accident. One of the purposes of auto insurance is to help a policyholder cover the expenses related to a car accident. However, if you do not have auto insurance, you will have to pay for everything yourself. 
  • You may face high-risk insurance rates in the future. If you were caught driving without auto insurance, it may be much more expensive for you to buy car insurance in the future. 

If you live in Newport Beach, CA and you are looking for an insurance agency you can trust in order to buy an auto insurance policy, Murvay Insurance is exactly what you need. We specialize in all types of insurance and have years of experience. Do not hesitate to call us if you have any questions or thinking of getting a car insurance policy. 

Commercial Insurance & Employee Protection

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Commercial insurance is an important component involved in running any kind of business. When you have the right insurance, you protect not only yourself but also your employees.

Are you unsure about your commercial insurance needs? Murvay Insurance, which serves Newport Beach, CA, can help you determine ways you can protect your employees.

Commercial Insurance Provides Business Coverage

When you operate a business, you may rely on commercial insurance to protect your company if there is a major disaster or you have some sort of liability for an injury. If you have employees at your business, your coverage does extend to them in some ways as well.

For example, if you have commercial coverage for your company’s cars, any employee driving them may be covered by your policy if they are involved in an accident. Your employees may not be held responsible separately, and your personal assets are not at risk either.

Your Plan May Include Health Insurance

Many commercial insurance plans also provide health coverage. You can add commercial health to your plan to provide for medical expenses and disability claims by your employees. If you are a small business, you can work with an insurance agent to determine what kind of coverage your state requires or recommends.

Your Plan May Include Workers Comp

Any business owner has concerns about what happens when an employee becomes injured or ill at work. With a commercial insurance plan, you may be able to secure workers comp insurance, which protects you if an employee is injured, ill, or disabled because of an incident that occurs at work. You are protected from financial loss, and your employee is protected too.

Get an Insurance Quote

Are you unsure how to provide the most commercial and employee protection? There are many ways to protect everybody involved. Contact Murvay Insurance if you are in Newport Beach, CA to learn more.